By By MaryClaire Foster
In an effort to work towards a more financially knowledgeable state population, United Bank recently hosted a meeting of the Alabama Asset Building Coalition.
The coalition is made up of non-profits, community action and community development agencies, United Ways, federal and state government and banking regulatory agencies, and financial institutions.
The coalition’s mission statement says: The Alabama Asset Building Coalition is a statewide collaborative to promote financial stability for individuals and families. By encouraging savings, financial education and other wealth building programs, the coalition strives to build an economic foundation that will allow the under served residents in Alabama to reach their highest potential and strengthen their financial future.
United Bank CEO and President Bob Jones said the meeting was an important step in combining efforts of all the involved parties and coordinating means to create more public awareness of available financial resources.
Jones said that while the efforts of the coalition, formed in 2005, have mostly focused on the northern half of the state he hopes that this meeting will allow more attention to be given to south Alabama.
Current program initiatives for the AABC include individual development accounts program, the IRS Volunteer Income Tax Assistance and Earned Income Tax Credit program, financial education programs, foreclosure prevention programs and to bring support of state legislation to eliminate savings and asset restrictions for the poor.
Representatives from agencies directly related to each of the initiative gave information regarding them to the group.
Jones said United Bank participated as a way to better serve not only its customers, but the community as well.
For more information about the AABC, visit their Web site at www.aacdc.org/aabc/.